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Just wanted to ask why Frists sale of a large block of his family company stock is not a violation? Believe me I don’t want to get mired in splitting hairs with anyone just kind of wanting to ask the experts.

[quote=SonnyClips]Just wanted to ask why Frists sale of a large block of his family company stock is not a violation? Believe me I don't want to get mired in splitting hairs with anyone just kind of wanting to ask the experts.[/quote]

It isn't likely that there's a violation. He didn't know how many shares he had because it was in a blind trust. The stock had had a steep climb and on June 13 he asked that all he held be sold. Because it was in a blind trust he couldn't direct when to sell the stock. It peaked around June 22. His shares were sold by July 1, his wife and kid's shares by June 8. On July 13 the company announced disappointing earnings news and the priced dropped.